MindStryke Strategies’ Post

Rishi, you make this sound so simple 😉 And, it is. But only if there is a process in place and if the sales manager ensures that each AE is held accountable for doing the grind work required. I coach sales managers and it constantly surprises me how few sales teams know how to manage their pipeline and how few managers have a system in place that tracks whether their team members are doing those daily tasks that are necessary to build and sustain that pipeline. #sales #salesmanager

If you are in sales you know that what you do now is going to decide how you finish the year. When we don't make our quotes there is usually a singular, overarching reason for underperformance - the lack of a healthy sales pipeline. In the article Julie Thomas, President and Chief Executive Officer of ValueSelling Associates, Inc. has shared some great tips to build and manage a healthy pipeline. First here are some key questions that you must ask yourselves before you jump in ❓Does your sales managers understand the activities and calculations required to fill the pipeline adequately and help reps manage their pipeline activity. ❓Do they have a clear grasp of the necessary steps to add qualified prospects to their pipeline? ❓Have they calculated precisely how much pipeline volume is essential to support or exceed their quota? ❓Finally, are they managing the process to keep the pipeline full and keep prospects moving through the sales cycle? This article goes into depth in all these areas but here is a step by step approach to calculate the activities needed to meet your goals. ✅ First Determine Your Targets: Example: If your target is $2M with an average deal size of $125K, you need 16 transactions. ✅ Then Reverse-Engineer Your Goals: With a win rate of 1 out of 3, you'll need 48 qualified prospects. With a lead-to-meeting ratio of 1 out of 5, aim for 240 qualified leads per year. ✅ Finally Break Down the Numbers: This translates to 20 leads per month or about 1 per day. Sales reps should aim for 2 hours per day or 10 hours per week on prospecting to hit these targets. Consistent effort ➡️ filling your pipeline ➡️ achieving Quota. Its as simple as that. https://lnkd.in/g3ZmzZfZ

Sales pipeline meetings are a waste of time. They are, if you’re doing them the wrong way. Here’s what to look for⬇️ Too many salespeople put the prospect into a stage based on what they think, or hope will happen.❌ The stage a prospect is in needs to be determined by an action or an activity the prospect has taken to earn that stage in the pipeline.✅ A good pipeline meeting, even 15 or 20 minutes long once a week, can flush out if the salesperson is using hope-ium as a strategy.🎯 Side note: A Monthly or Quarterly 1:1 sales meeting should have nothing to do with the pipeline.

Managing your sales pipeline is essential and the easiest way to turn accumulated leads to real customers. Top sales professionals avoid these dreadful mistakes in sales pipeline. You should also find out now. https://lnkd.in/ePt-MH4h #Episode11 #InsideSalesSeries

I would much rather have a consistent, predictable sales team that works hard every day than a rep who slams Red Bulls at the end of each quarter and closes a few big deals to get to their number. The best reps will achieve their quota target while continually improving their conversion rates, sales cycle, average deal sizes, and building pipeline for the future. Even if there is not enough pipeline, they do something every day to control their own destiny. They talk to prospects and customers, learn more about the product, and share soundbites and objection handling with other reps. This consistency in work pays off in the long run and is not reflected in sales quota attainment alone. https://lnkd.in/dfp5XDJy

Here’s a sales metric you shouldn’t ignore to end 2024 strong: Compare the time in pipeline with your average sales cycle. Closed-lost deals often take 30% longer than closed-won deals. I experienced this on most of my teams, as well as when I was a rep. So if it takes you 3 months to win a deal, you’re wasting an additional month on those you lose. Why is this? Most buyers won’t actively tell you they’re not buying. They just push next steps out until it’s obvious there’s no deal in sight. Or they just ghost you. Never to be heard from again. Try this self-check on your EOY pipeline: 1. Run a report vs your average sales cycle 2. If open deal > average sales cycle -> probably not worth your time Your job as a seller isn’t to win the deal. It’s to help your buyer make the best decision possible in as little time as possible. Shift to unselling, and make it easy for your prospects to say “no” early on. Because the next best thing to closed won, is to qualify out early. How do you ensure you're not wasting time on dead deals in your pipeline?

Feel like other sales teams consistently outperform yours? Knowing the stages of your sales pipeline and what actions to take at each one can make all the difference. Learn how to identify and optimize each phase to enhance your sales performance and close more deals. https://hubs.la/Q02J33DT0 #SalesSuccess #SalesStrategy #PipelineManagement #B2BSales #LeadGeneration #SalesPipeline #SalesPerformance

Struggling with urgent sales targets—how can you also prepare for future growth? Strike a balance by dedicating resources to hit current targets while allocating time to explore and set groundwork for expansion into new markets. DO set clear priorities between immediate sales goals and expansion initiatives. AVOID putting all resources into one area—balance focus and investment. DO designate a team or champion to explore expansion opportunities. AVOID letting urgent sales efforts distract from strategic growth initiatives. DO leverage data analytics to identify markets with high growth potential. AVOID making expansion decisions without thorough market research. DO schedule regular strategy meetings to evaluate progress on both fronts. AVOID postponing future-oriented planning sessions due to immediate pressures. DO consider short-term sales incentives to quickly boost numbers. AVOID relying on long-term strategies to meet immediate sales needs. DO utilize customer feedback from current sales to inform expansion areas. AVOID neglecting the insights gained from existing customer interactions. DO assign sales personnel focused on high-impact, near-term wins. AVOID placing expansion-focused roles on hold in favor of immediate sales. DO communicate dual goals to your team, emphasizing their role in growth. AVOID creating confusion with separate, conflicting objectives. DO invest in digital tools to manage both current and future sales efforts. AVOID manual, fragmented approaches that drain productivity. DO measure ROI on both immediate and strategic sales initiatives regularly. AVOID sticking to outdated KPIs without aligning them to new goals. DO celebrate small wins in current targets and milestones toward expansion. AVOID undervaluing short-term gains that contribute to long-term goals.

How confident are you in your pipeline coverage? It can be the difference between hitting targets and missing them entirely. Learn how your sales strategy can support consistent growth by tracking and optimizing your pipeline coverage. https://hubs.la/Q02Nb4Zc0 #SalesStrategy #PipelineManagement #SalesGrowth #B2BSales #RevenueManagement #SalesPipeline

How do you “trust but verify” your sales reps’ assessments of the deals in their pipeline and identify clear next steps that will help close those deals?